Recession-Proof Your Employees

With the doom and gloom headlines in the news over the past few months, it is only natural that you and your staff will be feeling the pressure of operating a business in a global recession.  With all that is going on, now is not a good time for your staff to start feeling negative and anxious.  What would be worse is for your clients or customers to start to pick up on this negativity from your staff.

To prevent your employees’ spirits from taking a beating and to place your firm in an advantageous position for the eventual rebound, here are some ideas on how to recession-proof your employees.

1.      Communicate Openly and Honestly

Take an active role in communicating with your staff about what’s going on in the business.  Don’t let your employees assume the worse-case scenario.  If you have to let staff go, explain the reasons why and help your remaining staff to feel secure in their jobs. 

2.      Share Your Business Vision and Future Direction

Talk to your staff about the future and let them focus on your achieving your business vision.  Now is a good time to get back to basics with client/customer service.  Have your staff involved in business improvement plans to improve client service, cost saving and revenue generating opportunities.  

3.      Value Your Employees’ Contributions

Maintain positive attitudes by acknowledging your employees’ contributions and performance in tough times.

4.      Build Your Talent

Take the opportunity to build your firm’s future leadership potential.  Have staff take on new challenges or stretch goals which help to build up their skills and experiences.  Consider outside development opportunities to provide extra training or experiences. 

5.      Strengthen Relationships

Build teamwork and respect among your staff.  Invest in low-cost, firm-wide events that help to build teams and strengthen relationships.